Fernando
Elite Member
- Joined
- Nov 7, 2016
- Professional Status
- Certified Residential Appraiser
- State
- California
Quieter Streets Linked to Increase in Home Prices
Researchers find that when sound barriers are constructed along busy highways, the prices of homes nearest those barriers spike
Researchers from UC Berkeley (my alma mater) analyzed 600K properties in Florida before and after sound barriers constructed along busy highways found that five years after noise barriers were built, the price of properties within 100 meters (about 109 yards) of a barrier saw a rise of almost 6.8% compared with homes in a control group. The barrier's effect on property values declined with distance. They observed price increases of abut 3.9% for homes located 100 to 200 meters from a newly constructed sound barrier, 3.1% for comes located 200 to 300 meters from a barrier and 2.8% for homes 300 to 400 meters from a barrier. Beyond those distances, there was little effect.EV Question:
If every car in US were EVs, how would that affect property values nationally?
They created a model and found an increase in property values by about $77.3 billion nationally.
They found Santa Clara County (Silicon Valley) has highest EV adoption in nation and EV use has boost property values by about $264 million collectively in 2023.
